Matrixport Review 2024 – Pros & Cons Revealed

Over the past few years, the growth of the cryptocurrency market has created a pathway for numerous investing services to launch, enabling traders to generate interest on their idle crypto holdings. One of the most exciting platforms to offer these services is Matrixport, which has become one of the fastest-growing crypto outlets in Asia.

This Matrixport review covers everything there is to know about the platform, touching on what it offers, its fee structure, and how to begin using Matrixport today.

What is Matrixport?

Matrixport provides an all-in-one platform for crypto traders looking to get the most out of their investment activities. The platform has over $10 billion in assets under management (AUM) and regularly handles over $5 billion in monthly trading volume.

Matrixport serves people looking to invest in cryptocurrency, regardless of their experience level. With Matrixport, clients can invest, trade, earn, and lend crypto, all through the platform’s user-friendly mobile app. Aside from retail trading services, Matrixport also serves over 300 institutions, including hedge funds, miners, and prop trading firms.

Although Matrixport has a strong foothold in Asia, the company now operates in over 40 countries across three continents. The platform is also backed by several top-tier investors, such as Paradigm and Tiger Global, adding significant credibility to the services offered.

At the time of writing, users who create an account with Matrixport will receive 1,288 USDC worth of free trial coupons. These coupons can be invested in a selection of Matrixport’s products, which are detailed in the following section.

Cryptoassets are a highly volatile unregulated investment product. Your capital is at risk.

Matrixport Services

So, what services does Matrixport actually offer to clients? Let’s take an in-depth look at some of the most popular offerings below:

Matrixport Earn

One of Matrixport’s leading services is called ‘Earn’. As the name suggests, this service allows investors to generate a yield on their idle holdings – much like crypto savings accounts. However, Matrixport offers investors immense flexibility within the Earn service, thanks to the various yield-generation possibilities on offer:

• Fixed Income – This service offers attractive yields of up to 30% per year for stablecoins (e.g. USDC), 7% per year for altcoins, and 3% per year for BTC and ETH. These yields are achieved by ‘locking up’ deposits for a set period, allowing Matrixport to invest customer holdings in collateralized loans, zero-interest loans, spot leverage products, and credit funding.
• Flexi Saving – This service works similarly to the fixed income service, except there is no lock-up period, and interest rates are determined dynamically. This means that rates are based on supply and demand factors; although APYs are lower for the Flexi Saving service, investors can withdraw their funds at any time.
• Smart Pool – This service ventures into the DeFi sector and places deposits into various DeFi protocols (e.g. Curve, Swerve) with no lock-in period. Matrixport can allocate holdings into the optimal protocol, ensuring stable yields ranging between 5% to 25% per year.
• DeFi Intelligence – DeFi Intelligence is similar to Smart Pool, except it allows investors to gain exposure to liquidity mining. Compound interest is earned on every cycle, with withdrawals allowed at any time.

Matrixport also provides a route for investors to access some of the best DeFi applications. Through these protocols, APYs of up to 25% can be achieved, all with fixed terms that tend to be less than seven days.

Matrixport Invest

The Matrixport Invest service provides a range of offerings that can bolster return generation. One of the most popular is Matrixport’s ‘Dual Currency’ service, which aims to provide a double-digit annualized yield, regardless of market volatility. These investment products are similar to loans, yet have a floating rate of return.

Yields on these investment products can be upwards of 70% APY yet are considered ‘riskier’ than other options. Another essential aspect to keep in mind is that the principal and yield will be paid in either BTC or USDC, depending on whether the value of the investment is above or below a specific threshold called the ‘Linked Price’. Much like the other products noted in this Matrixport review, investors can choose from various crypto-assets and timeframes to tailor the risk level and returns.

Aside from Dual Currency, Matrixport also offers other ways for investors who buy cryptocurrency to generate a return. These include ‘SharkFin’, which provides a guaranteed yield with a defined return profile, and ‘Range Sniper’, which allows investors to earn a high rate of return when the price of BTC is trading within a predefined price range.

Matrixport Trade

Matrixport also offers a ‘Trade’ service that allows users to buy Bitcoin (along with over 60 alternative cryptos) with zero commissions. The platform also offers up to 5x leverage with ‘one-click’ open and close, so investors can immediately act on price movements. This service even allows investors to partially open or close positions, significantly increasing flexibility.

Matrixport Loan

Another feature noted during our Matrixport review was that the platform offers a similar service to many of the best crypto loan sites. This feature allows users to take out loans backed by their crypto holdings with instant approval and competitive interest rates. What’s more, these loans are secured by bank-grade security to give investors peace of mind.

Matrixport also offers ‘Zero Cost’ loans, which are interest-free with no liquidation risk. Various timeframes are presented, although these loans cannot be repaid until the specified timescale has ended.

ETH 2.0 Staking

Finally, investors who buy Ethereum may wish to use Matrixport’s dedicated staking service. This service offers returns of between 3% and 10% per year, with scope to use the platform’s DeFi-based services (through Curve and Lido) to benefit from lower transaction fees and flexible lock-up periods. 

Matrixport Supported Cryptocurrencies

As touched on above, the Matrixport Trade service provides similar investment opportunities to many of the best crypto exchanges. At the time of writing, Matrixport offers support for over 60 cryptocurrencies, including an array of altcoins and stablecoins. The platform even supports DeFi tokens, such as AAVE, COMP, and SUSHI.

In terms of deposits, Matrixport allows users to fund their accounts with BTC, USDC, USDT, ETH, BCH, and more. However, it’s essential to ensure that the relevant coin is deposited to the appropriate address (e.g. BTC to the BTC wallet); otherwise, the funds could be lost.

Cryptoassets are a highly volatile unregulated investment product. Your capital is at risk.

Matrixport Fees

Throughout the research for this Matrixport review, we noted several fee types to be aware of:

Trading Fees

As touched on earlier in our Matrixport review, the platform charges zero commissions when trading crypto. There are also no spreads, meaning investors can trade at ‘true cost’.

However, investors who wish to purchase crypto instantly using a credit or debit card will have to pay a transaction fee, which is levied by Matrixport’s payment partner, Simplex. This fee currently stands at 3.5% per trade.

Deposit/Withdrawal Fees

Matrixport does not charge any deposit fees for investors who fund their accounts using crypto. However, each supported coin does have a specific minimum deposit amount to keep in mind – for example, the minimum Bitcoin deposit is 0.00001 BTC. For investors who deposit using FIAT, there will be a fee of between $20 to $50, depending on the currency.

Matrixport does charge a withdrawal fee, which again varies from asset to asset. Matrixport will charge a $30 flat fee for FIAT withdrawals, regardless of the withdrawal method.

Service Fees

Finally, Matrixport will also charge some fees based on the services that each investor uses. For services where a return is offered, fees tend to be built into the offered yield – so the quoted return is post-fees. However, there are some services where a commission is levied:

• Flexi Saving – 5% of revenue
• Smart Pool – 10% of revenue
• DeFi Intelligence – 10% of revenue

Finally, DeFi protocols may also be accompanied by network fees, depending on the blockchain. These are not charged by Matrixport and are instead a side-effect of making on-chain transactions.

Matrixport App

Matrixport offers a mobile crypto app available to download for free via the App Store or Google Play. The app itself is exceptionally well designed and is ideal for beginners and advanced investors alike. All of the services noted earlier in this Matrixport review are available via the app; all are offered clearly and easily.

Matrixport also has a built-in ‘hot wallet’ where users can store their deposited crypto holdings. This wallet is custodial, meaning that Matrixport will have access to the user’s private keys, although it does provide a handy way to quickly fund the services that Matrixport offers. There’s even an option to automate the investing process, whereby any deposits made are automatically placed into a specific service to begin generating a yield right away.

Matrixport Security

During the research for this Matrixport review, we noted that the platform has employed an array of security features to protect customers’ holdings. These include multi-sig mechanisms, distributed data centers, vault-level security, and storage of private keys in HSM.

All Matrixport accounts require two-factor authentication to log in, with high-level encryption used to store sensitive customer information. Finally, although Matrixport isn’t currently regulated within the US, the platform is licensed within Switzerland and Hong Kong, adding a significant level of credibility.

How to Get Started on Matrixport?

Investors looking to make money with cryptocurrency may wish to know how the sign-up process works with Matrixport. With that in mind, the four quick steps below will provide a walkthrough of this process – all of which can be completed through the smartphone app.

Step 1 – Download the Matrixport App

Head over to the App Store or Google Play, search for ‘Matrixport’ and download the mobile app. Alternatively, investors can also scan the QR code on Matrixport’s homepage to be taken directly to the app’s listing page.

Step 2 – Create an Account

Click ‘Sign Up’ on the app to create a Matrixport account. Matrixport will then ask for either a valid phone number or email address, along with a password used to log in in the future.

Cryptoassets are a highly volatile unregulated investment product. Your capital is at risk.

Step 3 – Verify Account

Matrixport has three levels of verification, each allowing access to a specific set of services:

• Basic Verification (KYC 1) – This only requires the user’s full address, nationality, and proof of ID (e.g. passport).
• Advanced Verification (KYC 2) – This level requires proof of address to be provided (e.g. tax bill, rental contract)
• Video Verification (KYC 3) – Finally, this level will require a video to be sent that will confirm the user’s ID is accurate.

Step 4 – Begin Investing with Matrixport

All KYC levels allow users to make a deposit; however, only KYC 2 and KYC 3 will allow withdrawals to be facilitated. Once verification is complete, users can browse the services on Matrixport’s app, fund their accounts, and then begin trading or investing right away. As always, it’s crucial to perform due diligence beforehand and always have a solid risk management strategy.

Matrixport Review – Conclusion

In summary, this Matrixport review has covered all of the critical elements of this exciting platform, highlighting the various features on offer and how to get set up with a Matrixport account today.

At the time of writing, Matrixport is running an exclusive introductory offer that provides 1,288 USDC in free trial coupons, which can be used within the Fixed Income or Dual Currency services. Moreover, Matrixport is also offering a 30% annualized fixed income welcome offer – ideal for investors looking to generate a yield right away.

Cryptoassets are a highly volatile unregulated investment product. Your capital is at risk.

FAQs